JPMorgan Cuts PT on Blackstone Inc. (BX) to $122 From $158 – Here’s Why

Core Viewpoint - JPMorgan and Barclays have both reduced their price targets for Blackstone Inc. (BX), reflecting concerns over increased redemption requests and lower flow assumptions impacting management fees and earnings estimates [1][2]. Group 1: Price Target Adjustments - JPMorgan cut the price target on Blackstone Inc. to $122 from $158 while maintaining a Neutral rating, citing a notable increase in redemption requests to 7.9% in Q1 from 4.5% in Q4 [1]. - Barclays also reduced its price target for Blackstone Inc. to $126 from $164, reiterating an Equal Weight rating, due to revised estimates across the alternative asset manager group [2]. Group 2: Market Position and Future Outlook - RBC Capital initiated coverage of Blackstone Inc. with an Outperform rating and a price target of $179, highlighting the company's first-mover advantage in launching a private wealth team and its potential benefits from retail growth and an improving real estate cycle [3]. - Blackstone Inc. operates through segments including Real Estate, Private Equity, Credit and Insurance, and Hedge Fund Solutions, indicating a diversified investment strategy [4].